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Because I can't actually buy anything with them, outside of a few niche markets.
by lilactown 9y ago
Because I can't actually buy anything with them, outside of a few niche markets.
- SideburnsOfDoom 9y agoI'm not following? Being unable to use a banknote (e.g. a 2008 Zimbabwe 1 Trillion Dollars Banknote) doesn't make it any less Fiat - no commodity has appeared; it makes it low-quality fiat money.
- someguy9888 9y agoHaha. Aside from the things I can buy with it, I can't buy anything with it!
- lilactown 9y agoJust because I can exchange Chuck-E-Cheese coins or WoW gold for certain specific goods and/or services doesn't make them fiat.
- SideburnsOfDoom 9y ago> Just because I can exchange Chuck-E-Cheese coins ... for certain specific goods and/or services doesn't make them fiat. So what does it make them then? As far as I know, the categories are "fiat" or "commodity-backed". If it's not Fiat, which commodity backs Chuck-E-Cheese coins? Or is it merely backed by the say-so of the Chuck-E-Cheese company? You understand that "say-so" in Latin is "fiat"? Isn't this just a form of "Company Scrip", a (low quality) Fiat instrument? https://en.wikipedia.org/wiki/Company_scrip https://en.wikipedia.org/wiki/Company_scrip https://thebluecollareconomist.com/2016/10/30/fiat-currency-scrip-by-another-name/ https://thebluecollareconomist.com/2016/10/30/fiat-currency-...